Read/Write API
TechnologyDefinition
Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
Related Terms
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
AIS
Account Information ServicesAccount Information Services allow third-party providers to access account data (such as balances an...
PIS
Payment Initiation ServicesPayment Initiation Services are services that allow a third-party provider to initiate payments from...
Frequently Asked Questions
What is Read/Write API?
Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
What does Read/Write API stand for in Open Banking?
Read/Write API is a key term in the Open Banking ecosystem. Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
How does Read/Write API relate to Open Banking?
Read/Write API is a key concept in the Open Banking ecosystem, falling under the Technology category. Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
More Technology Terms
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
API Data
API Data is data made available to an API User or a TPP through the APIs. This includes account info...
LOS
Loan Origination SystemA Loan Origination System (LOS) is software that manages the end-to-end lending lifecycle: applicati...
OAO
Online Account OpeningOnline Account Opening (OAO) is digital onboarding that lets a customer apply for and open a new dep...
OLB
Online BankingOnline Banking (OLB) is the digital banking channel where customers or members sign in to view balan...
Open API
Open API / Public APIAn Open API or Public API is a free-to-use, publicly available application programming interface tha...
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